Is this the end of the trade war?
The trade war might be coming to a strange end.
Last week, the Supreme Court heard two cases questioning the legal underpinnings of Donald Trump’s tariff regime. A group of state governments and businesses—selling toys, wine, plumbing supplies, bicycle saddles, and other goods—argued that the United States’ trade deficits do not constitute an emergency and that the International Emergency Economic Powers Act does not give the White House the unilateral authority to impose tariffs anyway.
The president argued that it “would literally destroy the United States of America” if the Court rules against him. Alas, I guess, the justices—three Trump appointees among them—seem likely to do so, as three lower courts have so far this year, and as a formidable group of conservative legal experts insists they must.
